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Lamprell Gets USD64M Contract For Major Rig Refurbishment Project

Fri, 13th Sep 2013 09:23

LONDON (Alliance News) - Lamprell PLC Friday said that it has been awarded a USD64 million contract for a major rig refurbishment project by Millennium Offshore Services group.

The provider of diversified engineering and contracting services to the onshore and offshore oil-and-gas and renewable-energy industries said that the contract relates to the conversion of a three-legged Type MLT116C jackup rig at the group's Sharjah facility.

It said the rig is a multi-purpose jackup unit capable of operating in water depths of 300 feet, and it will be converted into an accommodation support vessel for the purpose of accommodating 290 personnel.

"It is pleasing that one of our existing clients has awarded us a new contract for one of the largest refurbishment and conversion projects in our history. Rig refurbishment remains an area of traditional strength for the group, and it is encouraging to have been selected by MOS for this high profile project," Chief Executive Officer James Moffat said in a statement.

Lamprell shares were up 2.1% or 3.00 pence, trading at 143.25 pence Friday morning.

By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty